N Brown to shut 5 stores despite promising quarter

N Brown

Weak footfall has forced N Brown Group to announce the planned closure of up to five of its loss-making stores across the UK, despite revenue growth.

In the three months to the start of June, the retail company — which owns Jacamo, Simply Be and JD Williams — reported a total group revenue boost of 5.6 per cent alongside an overall product sales boost of 10.2 per cent.

Womenswear was the runaway performer during the period, with sales rising 13.5 per cent.

Online sales accounted for over 70 per cent of the group‘s overall sales rising four per cent on last year, while website traffic shot up 34 per cent.

READ MORE:  N Brown chairman Andy Higginson steps down

Despite the positive growth, operating profits came in at £2  million, attributing it solely to its physical estate and leading to the planned store closures.

Shares were also up 28 per cent this year.

“Although the outlook for consumer confidence remains uncertain, our offering is resonating with customers,” chief executive Angela Spindler said.

“At this early stage in the financial year, trading is on track to meet our expectations. We continue to invest in our customer proposition and remain very confident in our future growth prospects.”

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